Business
Propanc Biopharma Provides A Shareholder Update for 2021
MELBOURNE, Australia--(BUSINESS WIRE)-- Propanc Biopharma, Inc. (OTCQB: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel
About this update from Propanc Biopharma, Inc.
[{"type":"text","content":" MELBOURNE, Australia--(BUSINESS WIRE)--\nPropanc Biopharma, Inc. (OTCQB: PPCB) (“Propanc” or the “Company”), a biopharmaceutical company developing novel cancer treatments for patients suffering from recurring and metastatic cancer, announced today that its Chief Executive Officer, Mr James Nathanielsz, provides a shareholder update for 2021 as business confidence increases, spurred on by a post pandemic recovery as vaccines are rolled out across the globe. A combination of easing of lockdown restrictions has led to improving economic conditions, supported by government incentives over the last 12 months since the beginning of the pandemic. After experiencing some of the harshest lockdown conditions in the world last year as a result of the COVID-19 pandemic in Australia, Propanc intends to seize advantage of the hard work undertaken recently with its capital restructure, scientific research activities and “cash back benefits” to be received from the Australian government.\n\n“Whilst the pandemic has presented many challenges for microcap companies, I am proud of the efforts and resilience of my management team, R&D partners and service providers in supporting the Company throughout this period,” said Mr. Nathanielsz. “I am also very grateful to our institutional investor who is working with us patiently, as we set up the foundations for future success. As we continue to advance our scientific knowledge of proenzyme therapy, I continue to be amazed and delighted with the results, and remain confident that we are developing a unique approach to treating cancer from solid tumors, mostly fast spreading, aggressive cancer types, which could potentially have very long-lasting effects on these largely underserved patient populations. I am very grateful to all of the individuals who continue to support our vision to fulfill the potential of this groundbreaking therapy.”\n\nCapital Restructure\n\nPropanc has reduced its level of aged debt significantly, supported by a lead institutional investor who continues to finance the Company. Further, the Company underwent a reverse split of its common stock in November 2020. To date, the lead institutional investor has provided equity financing to fund operational activities in 2020/21 with plans to continue supporting the Company as it advances its lead product candidate, PRP, towards a Phase ...